Published Market Report | Neodymium Rare Earth Magnets Market Size Projected to Reach US$ 4.9 Billion by 2030, Propelled by Rising Demand for Electric Vehicles and Clean Energy Technologies

The global neodymium rare earth magnets market is expected to reach US$ 4.9 billion by 2030, with an annual growth rate of more than 8.2%

Global Neodymium Rare Earth Magnets Market is valued at US$ 2.8 billion in 2023 and is expected to grow at a significant CAGR of over 8.2% over the forecast period of 2023-2030, according to the published market report by RationalStat

Market Definition, Market Scope, and Report Overview

The neodymium magnet is the most extensively used rare-earth magnet. They provide exceptional levels of magnetism and resistance to demagnetization when compared to other magnets. The neodymium magnet has fastened its status as the most popular magnet in countless applications. Various industries, including medical science, renewable energy, automobiles, and technology have been significantly relying on super-strength neodymium magnets. Moreover, many individuals across the globe have been using this magnet for arts and crafts.

The applications of these magnets extend to the Oil industry by grease filter producers to more effectively filter out the iron powder in oil. Furthermore, they are useful in covering machines, cars with awnings, and in the creation of magnetic tool belts. They are also widely used in jewelry clips, identification badges, and in the production of baby strollers that are attached to carriers via magnets.

• According to a deep-dive market assessment by RationalStat, the global neodymium rare earth magnets market has been analyzed on the basis of market segments, including type, application, end use industry, and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.

• Market intelligence for the global neodymium rare earth magnets market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.

• In addition, the long-term sector and products/services 10-year outlook and its implications on the global neodymium rare earth magnets market. It also includes the industry's current state - Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.

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Global Neodymium Rare Earth Magnets Market: Segmental and Market Share Analysis
• On the basis of end use industry, the automotive industry is anticipated to acquire the majority market share owing to the rapid urbanization, industrialization, growing penetration of electricity and increasing levels of automation in several industries, including the automotive industry,

Report Synopsis
Report Metrics Details
Base Year 2023
Forecast Period 2023-2030
Base Year Market Size US$ 2.8 billion
Market Size Forecast US$ 4.9 billion
Growth Rate 8.2%

Key Market Drivers
• Growing demand
• Increasing focus on sustainability

Companies Profiled
• Neo
• Ugimag
• NSSMC
• TDK
• Daido Steel
• Shin-Etsu Chemical
• Audemars SA
• Hitachi Metals
• Tianhe Magnets
• Ningbo Co-star Materials Hi-Tech

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Competition Analysis and Market Structure

Some of the prominent players and suppliers operating and contributing significantly to the global neodymium rare earth magnets market growth include Neo, Ugimag, NSSMC, TDK, Daido Steel, Shin-Etsu Chemical, Audemars SA, Hitachi Metals, Tianhe Magnets, and Ningbo Co-star Materials Hi-Tech, among others.

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RationalStat has segmented the global neodymium rare earth magnets market based on type, application, end use industry, and region
• Global Neodymium Rare Earth Magnets Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Type
o Bonded Neodymium
o Sintered Neodymium
• Global Neodymium Rare Earth Magnets Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Application
o Electro-Acoustic Field
o Electronic Appliances Field
o Mechanical Equipment Field
• Global Neodymium Rare Earth Magnets Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by End Use Industry
o Automotive
o Electronics
o Consumer Goods
o Renewable Energy
o Others
• Global Neodymium Rare Earth Magnets Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
o North America Neodymium Rare Earth Magnets Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
 US
 Canada
o Latin America Neodymium Rare Earth Magnets Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
 Brazil
 Mexico
 Rest of Latin America
o Western Europe Neodymium Rare Earth Magnets Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
 Germany
 UK
 France
 Spain
 Italy
 Benelux
 Nordic
 Rest of Western Europe
o Eastern Europe Neodymium Rare Earth Magnets Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
 Russia
 Poland
 Hungary
 Other CIS Countries
 Rest of Eastern Europe
o Asia Pacific Neodymium Rare Earth Magnets Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
 China
 Japan
 India
 South Korea
 Australia
 ASEAN
• Indonesia
• Thailand
• Philippines
• Vietnam
• Malaysia
• Rest of ASEAN
 Rest of Asia Pacific
o Middle East & Africa Neodymium Rare Earth Magnets Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
 GCC
• Saudi Arabia (KSA)
• United Arab Emirates (UAE)
• Rest of the GCC
 South Africa
 Nigeria
 Turkey
 Rest of the Middle East & Africa

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Key Questions Answered in the Neodymium Rare Earth Magnets Report:
• What will be the market value of the global neodymium rare earth magnets market by 2030?
• What is the market size of the global neodymium rare earth magnets market?
• What are the market drivers of the global neodymium rare earth magnets market?
• What are the key trends in the global neodymium rare earth magnets market?
• Which is the leading region in the global neodymium rare earth magnets market?
• What are the major companies operating in the global neodymium rare earth magnets market?
• What are the market shares by key segments in the global neodymium rare earth magnets market?

Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts' viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
• Defining the problem by understanding the type of market and data required by the client.
• Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
• Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
• Evaluating and analyzing the data by referring to data sources utilized and leveraged.
• Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.

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RationalStat LLC
Kimberly Shaw,
Content and Press Manager
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RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client's needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.

This release was published on openPR.